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Volume XI, Number 265

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SEC Whistleblower Who Risked Personal Safety Receives $1.6 Million Award

Today, the Securities and Exchange Commission (SEC) announced a whistleblower award of $1.6 million granted to an individual who risked their personal safety to report fraudulent activity.

According to the award order, the SEC whistleblower met with the Commission staff and provided original information that was critical to an ongoing investigation into securities fraud.

The SEC Whistleblower Program allows whistleblowers who file for awards to remain completely anonymous and confidential in their proceedings. Whistleblowers who provide the SEC with original information of fraud can become eligible for awards ranging from 10 to 30 percent of the sanctions collected from enforcement actions if the monies exceed $1 million.

Since the Program was established under the Dodd Frank Act of 2010, the SEC has issued approximately $736 million to 128 whistleblowers.

“Today’s award demonstrates the value of whistleblowers to the SEC’s enforcement efforts,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “We hope that this award encourages others with information regarding possible securities laws violations to report to the Commission.”

Ben Kostyack also contributed to this article.

Copyright Kohn, Kohn & Colapinto, LLP 2021. All Rights Reserved.National Law Review, Volume X, Number 357
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About this Author

Mary Jane Wilmoth Whistleblower Attorney Kohn Kohn & Colapinto Law Firm
Managing Partner

Mary Jane Wilmoth is the firm’s managing partner. She litigated cases involving whistleblower protection for environmental and nuclear industry whistleblowers, and Qui Tam/False Claims whistleblowers. Ms. Wilmoth joined the firm in 1992 and worked on cases and hearings that involved complex nuclear and environmental regulations. In her efforts to uphold such safeguards in the American workplace, she has helped to strengthen whistleblower rights in licensing and...

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